Class F - COIDA / WCA Tariffs of Assessment
The Compensation for Occupational Injuries and Diseases Act, more commonly referred to as COIDA / WCA, aims to provide employees with compensation should they be disabled by occupational injuries or diseases which may arise during an employee’s time of employment.
COIDA / WCA also provides compensation should any injuries or diseases lead to death. COIDA / WCA also provides for any and all such matters which may be connected herewith. An increase in annual assessment tariff as indicated in the introduction blog mentions all Classes and Categories
COIDA / WCA Annual Assessment
Once every year, there is an assessment conducted by the Compensation Commissioner on all employees who are registered with COIDA / WCA. This includes all industries which are then subdivided into industry classes and 100 sub-classes.
Each employer is liable to pay a certain tariff on a yearly basis. These tariffs are according to the nature of business of the employer along with the risk ratio of the sub-class.
Assessment fees are calculated according to the total of all employee salaries which is divided by 100 and multiplied by the assessment tariff.
The fee is payable within 30 days of the assessment, in accordance with Section 86.1 of COIDA. The table on the next page provides the current tariff, which is changing from 2021 onwards, and which has been calculated for the next five years.
This rate change is according to the current industry classes, the sub-classes, and the corresponding risk ratio, which is subjected to change depending on changes to the risk ratios.
It is important that employers take note that this year’s assessment will be calculated as follows – the final assessment for salaries and wages for 2020 will be based on last year’s tariff rates and the provisional calculations for salaries and wages for 2021 will be calculated on the new gazetted tariff rates.
The tariffs which are introduced will replace the W.AS. 178T notice and are as follow:
Table 1: Class F current and prospective tariffs
Alt Class Compensation Fund
5-Year Phase In:
1025 – Grease Manufacturing – Class X
- Candle and/or soap manufacturing
- Grease manufacturing as a separate business, and
- Cotton-seed oil manufacturing.
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